Pot grower Zenabis said Friday that it secured a 60 million Canadian dollar ($47.2 million) loan from an undisclosed private fund to pay down debt owed to competitor Sundial Growers, heading off what it alleged was a hostile takeover bid.
A Xerox spinoff on Friday urged a New Jersey federal court to toss a class certification bid in a suit over the company's purported misrepresentations to shareholders, arguing that the proposed class representatives have "ceded control" of the case to their lawyers at Bernstein Liebhard LLP and Thornton Law Firm LLP.
The Delaware Supreme Court on Friday upheld a lower court decision that gave investors in outsourcing company SourceHOV Holdings a post-merger share appraisal of $47.3 million, 2.8 times higher than the company's price.
DuPont de Nemours, Corteva and the Chemours Co. said Friday they have jointly committed $4 billion to cover liabilities for their past use of toxic substances known as "forever chemicals" and will pay $83 million to settle multidistrict litigation in Ohio over the pollutant.
With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Cooley and Kirkland. Here, Law360 recaps the ones you may have missed.
Delaware's Supreme Court reversed Friday the Chancery Court's 2019 dismissal of a $661 million unitholder challenge to a part of a $3.3 billion Spectra Energy Partners LP merger in 2015, finding that the lower court wrongly denied standing after giving slim odds to the investor's chance of a material recovery.
Taiwanese silicon wafer manufacturer GlobalWafers, led by Linklaters and White & Case, said Friday it sweetened its offer for Siltronic in a bid that now values its German peer at €4.2 billion (about $5.1 billion), a 12% boost from last month's offer.
In this week's Taxation With Representation, laser tool developers Lumentum and Coherent merge in a $5.7 billion deal, Boston Scientific buys medical device maker Preventice Solutions for $1.1 billion, and RxBenefits gets a $1.1 billion valuation.
The purchaser of a Pennsylvania hospital bought it "as-is" and can't cite defects that cropped up later and allegedly threatened its certification for Medicare and Medicaid reimbursements as an excuse for "buyer's remorse," the seller told a federal court.
The deal-making rebound that began late last year will flourish in 2021, according to Matthew Herman, co-head of Freshfield's global M&A practice. Herman talked with Law360 about the scales tilting in favor of sellers and preparing for increased scrutiny on cross-border transactions from regulatory bodies around the world.
EVgo Services LLC, guided by Vinson & Elkins, has agreed to go public by combining with a Mayer Brown-advised special purpose acquisition company, the parties said Friday, in a deal that values the electric vehicle charging station operator at about $2.6 billion.
The Brazilian competition authority said Thursday that it had cleared Hypera Pharma's bid to acquire an $825 million portfolio of over-the-counter and prescription drugs from Osaka, Japan-based Takeda Pharmaceutical Co. Ltd.
A Texas bankruptcy judge approved communications satellite company Speedcast's much-delayed Chapter 11 plan Thursday after rejecting a request by an ex-CEO to pause the process to let him take a closer look at a creditor settlement that could see him facing legal action.
Two Prevail Therapeutics investors filed a lawsuit in Delaware Chancery Court Thursday seeking company records to investigate possible mismanagement in connection with the disease treatment researcher's roughly $1 billion sale to Eli Lilly.
Online trading platform IG Group said Thursday it is offering roughly $1 billion to acquire tastytrade, an investment media and brokerage services company being advised by Barnes & Thornburg LLP.
Joby Aero is mulling a SPAC merger that could value it at about $5 billion, specialty chemicals company Polynt-Reichhold could be worth €1.5 billion ($1.8 billion) in a sale, and activist investor Starboard is taking aim at former Dow Chemical unit Corteva. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
The Communications Workers of America slammed Verizon's multibillion-dollar deal to acquire TracFone, telling the Federal Communications Commission on Thursday the mobile giants haven't explained why the tie-up won't hurt consumers, including those who use Lifeline subsidies.
Faegre Drinker-counseled Boston Scientific will pay as much as $1.125 billion to scoop up Latham & Watkins-advised Preventice Solutions, a private equity-backed medical device maker focused on issues related to the heart, the companies said Thursday.
Swiss private equity firm Partners Group, led by Clifford Chance, said Thursday it bought a portfolio of 27 light industrial real estate properties in the United Kingdom for £253 million (about $347 million) from Paloma Capital.
Federal Trade Commission Democrat Rebecca Kelly Slaughter will be leading the agency on an acting basis, the commission announced Thursday, plugging the gap left by the pending exit of the agency's Republican former chief.
Global law firm Dentons has added a former Stradling Yocca Carlson & Rauth partner as a partner and co-head of the firm's Southern California venture technology group, based out of its offices in San Diego and Los Angeles.
Attorneys for a Ukrainian bank allegedly plundered by two oligarchs urged a Delaware vice chancellor on Wednesday to slow the $17 million sale of a Cleveland office tower purportedly bought with some of the bank's cash, citing price, fairness and conflict concerns.
An investor group said Wednesday it sweetened its take-private deal for memorabilia authentication company Collectors Universe to about $853 million, a move aided by Sullivan & Cromwell, Paul Weiss and Wilson Sonsini.
Bankrupt restaurant franchisee NPC International received permission Wednesday in Texas court for a pair of sale transactions that will transfer its hundreds of Wendy's and Pizza Hut restaurants to new owners with a price tag of $801 million.
Bernard "Barry" A. Nigro Jr. rejoined Fried Frank as head of its global antitrust and competition practice in November after a three-year stint at the U.S. Department of Justice's Antitrust Division. Here, he tells Law360 about the Trump administration DOJ's imprint on competition law, including vertical merger enforcement and criminal cartel enforcement.
With the Biden administration pledging to consider environmental justice across all agencies and in all federal decisions, companies must candidly assess their operations in order to make sure their statements on environmental justice are backed by measurable results, say attorneys at King & Spalding.
Affinity Gaming's recent plan to raise $150 million through a special purpose acquisition company spotlights a new trend of private equity firms forming SPAC subsidiaries to acquire target companies and take them public as an alternative to standard initial public offerings, says Carol Anne Huff at Winston & Strawn.
Amid the challenges of the pandemic, a shifting digital landscape, and increasing calls for diversity and inclusion, general counsel responsibilities are expanding into six new areas, highlighting the need for both in-house and outside counsel to serve as strategic and empathetic business leaders, say Wendy King at FTI Consulting and David Horrigan at Relativity.
Antitrust enforcement and litigation in the energy industry remained steady in 2020, despite challenges imposed by COVID-19 — and as 2021 unfolds, both regulatory action and private litigation will likely increase, say attorneys at V&E.
Though Oracle's attempts to take control of TikTok and become a competitive provider of third-party cloud-hosting services appear to have failed, Oracle's licensees should still consider themselves targets for aggressive cloud sales tactics and anticipate forthcoming audit activity, say Arthur Beeman, Joel Muchmore and Melissa Wehri at Beeman & Muchmore.
As clients increasingly demand better efficiency, predictability and cost-effectiveness from their legal partners, especially during the pandemic, law firms and other legal service providers may need to explore new ways to bundle and deliver services — and move away from billing by time, says Joey Seeber at Level Legal.
No U.S. law firm has its shares listed on a public stock exchange unlike some lucrative overseas counterparts, but by allowing nonattorneys to become stakeholders in law firms, Arizona may have paved the way for this to change should other U.S. states — particularly New York — follow suit, says Marc Lieberman at Kutak Rock.
The Trump administration's efforts to prevent Crystallex's sale of Citgo's parent company are an end run around U.S. Supreme Court just compensation precedent and constitutionally protected property rights, says former Federal Communications Commission general counsel Bruce Fein.
A look back at 2020 antitrust cases shows why economic evidence is likely to remain a key element in merger-enforcement litigation, despite the occasional anomaly, says Julie Elmer at Freshfields.
Some recent litigation developments demonstrate efforts by law firms and their clients to search for opportunities in the COVID-19 economic fallout, while others — such as the rise of contingency fee arrangements — reflect acceleration of tendencies that were already underway, says William Weisman at Therium Capital.
To comply with recently finalized Internal Revenue Service regulations implementing the Tax Cuts and Jobs Act's $1 million cap on compensation deductions, employee benefit and tax executives at public companies should understand who their covered employees are and identify compensation agreements subject to the rules, say Samuel Krause and Teresa Abney at Crowell & Moring.
In the face of rising client demands due to the pandemic and the changing regulatory environment, and with remote work continuing for the foreseeable future, lawyers should invest in their well-being by establishing inspiring yet realistic goals for 2021 — one month at a time, says Krista Larson at Morgan Lewis.
"Confidential" and other search terms commonly used to locate privileged documents during e-discovery are pretty ineffective, so practitioners should consider including specific types of keywords that are demonstrably better at targeting privilege, say Robert Keeling at Sidley and Rishi Chhatwal at AT&T.
In the context of a corporate transaction, employee benefits and compensation attorneys may need to consider the treatment of benefit plans, integration issues, the purchase agreement and agreements that extend beyond the closing, says Michelle Capezza at Epstein Becker.
Employee benefits and executive compensation attorneys must consider a spate of issues in the context of a corporate transaction, including the due diligence process and identification of plan-related liabilities, says Michelle Capezza at Epstein Becker.